New Hampshire Ratification and approval of directors and officers insurance indemnity fund with copy of agreement
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How to fill out Ratification And Approval Of Directors And Officers Insurance Indemnity Fund With Copy Of Agreement?
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FAQ
Indemnification is a legal agreement by one party to hold another party blameless ? not liable ? for potential losses or damages. It is similar to a liability waiver but is usually more specific, applicable only to particular items, circumstances, or situations, or in regard to a particular contract.
This clause is often used when one party is at a greater risk of loss and wants to protect itself. For example, a manufacturer may include a one-sided indemnification clause in a contract with a distributor to protect itself from any losses resulting from the distributor's actions.
Indemnification clauses or provisions are extremely strong agreements because one party renounces their legal privilege to sue another party. Most indemnification clauses will only apply one way- that is, only one party gives up their freedom to sue the other.
Indemnification, also referred to as indemnity, is an undertaking by one party (the indemnifying party) to compensate the other party (the indemnified party) for certain costs and expenses, typically stemming from third-party claims.
The word indemnity means security or protection against a financial liability. It typically occurs in the form of a contractual agreement made between parties in which one party agrees to pay for losses or damages suffered by the other party.
Indemnification is, generally speaking, a reimbursement by a company of its Ds&Os for expenses or losses they have incurred in connection with litigation or other proceedings relating to their service to the company.